Augmented Unemployment Rate revisited

Saturday, March 20, 2004 | 02:09 PM

We had previously discussed the Augmented Unemployment Rate back on January 10, 2004. (I've been meaning to update it, but its not the type of stat that moves markets).

Now, 2 months later, we see an actual improvement in this number, at +8.5%. This is down almost a percentage point from the 9.3 percent reading in January. I would expect to see an furtherimprovement still in April when it gets released.

Improvement:
augmented_march.gif
Source: TheStreet.com

Some people don't think highly of the Augmented Unemployment Rate; At least not lately. These critics were not holding court on the subject back in 2000 (although unemployment was hardly the election issue then it is today, so its not a fair comparo).

Regardless, any improvement in the overall employment situation is welcome.

More on this later . . .



Sources:
Gloomsters, Ship Sinking, Hold on for Dear Life
Caroline Baum
Bloomberg, Nov. 14, 2003
http://quote.bloomberg.com/apps/news?pid=10000039&cid=baum&sid=aOeKXad1eX1Y

The Street.com Economic Calendar: March 1-5 http://www.thestreet.com/markets/databank/10145820.html

Saturday, March 20, 2004 | 02:09 PM | Permalink | Comments (2) | TrackBack (2)
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Listed below are links to weblogs that reference Augmented Unemployment Rate revisited:

» Augmented Unemployment Rate from just procrastinating
Augmented Unemployment Rate From Barry Riholtz at the Big Picture, a note on the "augmented unemployment rate" that shows a decline to about 8.5%. Here is some info about this number, according to Barry: "The Augmented Unemployment Rate includes the ... [Read More]

Tracked on Mar 22, 2004 10:17:29 AM

» The Misleading Jobless Rate from The Big Picture
David Leonhardt has an interesting article in today's NYT about a subject we have discussed around here ad nauseum: The Misleading Jobless Rate. Over the years, TBP has looked at the Augmented unemployment rate, as well as the NILF issue (Not In Labor ... [Read More]

Tracked on Mar 5, 2008 11:33:50 AM

Comments

Interesting, but there are all sorts of adjustment problems with this data. We can hope the direction of movement at least is telling.

Posted by: anne | Mar 20, 2004 6:30:14 PM

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